Moors & Cabot Inc. purchased a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 2,324 shares of the insurance provider’s stock, valued at approximately $200,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Berman Capital Advisors LLC acquired a new stake in Cincinnati Financial in the fourth quarter valued at approximately $37,000. Clarus Wealth Advisors acquired a new stake in Cincinnati Financial in the fourth quarter valued at approximately $38,000. Portfolio Solutions LLC acquired a new stake in Cincinnati Financial in the fourth quarter valued at approximately $39,000. Princeton Global Asset Management LLC acquired a new stake in Cincinnati Financial in the fourth quarter valued at approximately $41,000. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of Cincinnati Financial during the fourth quarter valued at $70,000. Institutional investors and hedge funds own 65.12% of the company’s stock.
Several research firms have recently issued reports on CINF. BidaskClub raised shares of Cincinnati Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Credit Suisse Group raised shares of Cincinnati Financial from an “underperform” rating to a “neutral” rating and raised their price target for the company from $75.00 to $90.00 in a research note on Wednesday, February 27th. Finally, Zacks Investment Research raised shares of Cincinnati Financial from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Wednesday, January 16th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Cincinnati Financial has an average rating of “Hold” and an average price target of $89.00.
In related news, Director Dirk J. Debbink purchased 351 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was purchased at an average cost of $85.48 per share, with a total value of $30,003.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 7.16% of the company’s stock.
CINF stock opened at $95.74 on Thursday. The firm has a market cap of $15.74 billion, a PE ratio of 28.58 and a beta of 0.72. Cincinnati Financial Co. has a 52-week low of $66.33 and a 52-week high of $96.77. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.10.
Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Wednesday, April 24th. The insurance provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. Cincinnati Financial had a net margin of 15.97% and a return on equity of 7.35%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the firm earned $0.72 earnings per share. Cincinnati Financial’s quarterly revenue was up 76.4% on a year-over-year basis. On average, research analysts predict that Cincinnati Financial Co. will post 3.55 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Wednesday, June 19th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Tuesday, June 18th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 66.87%.
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Cincinnati Financial Company Profile
Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.
Further Reading: Trading Strategy Methods and Types
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